A Tax Court Victory for Homebuilders Might Not Apply to Others, Says the IRS

By |2017-05-24T13:42:02+00:00April 21st, 2017|Categories: Real Estate|Tags: , , , , , |

In a significant case, homebuilders that want to realize income under the completed contract accounting method based on an entire development won a victory. However, the IRS recently responded by announcing that it generally wouldn't follow the decision in cases involving other taxpayers. The U.S. Court of Appeals for the Ninth Circuit upheld a lower [...]